"The penalty has been imposed in exercise of powers vested in RBI under the provisions of the Banking Regulation Act, 1949 ...” the Reserve Bank added.

Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 were reported by the ICICI Bank involving Rs 5,033.81 crore.

According to the bank, provisions and contingencies for the latest quarter were Rs 1,889.2 crore (consisting of specific loan loss provisions Rs 1,431.2 crore, general provisions Rs 191.2 crore and other provisions Rs 266.9 crore) as against Rs 1,541.1 crore in the year ago period.